Chidambaram says no sign of slowdown in investment

Chidambaram says no sign of slowdown in investment

New Delhi: Indian Finance Minister Palaniappan Chidambaram said on Thursday there were no signs of a slowdown in investment, and he expected demand to bounce back during a season of festivals, to begin this month.

“There is no evidence of slowdown in investment. There is evidence of slowdown in production in some sectors," Chidambaram told reporters when asked about slackening industrial production in July.

“We will try to find out whether it is due to mild slowing down or whether they have cut back on production. Except for automobiles there is no evidence of production cut back either.

“Now that the festival season is coming there is reasonable expectation demand will pick up."

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